The Brian Lehrer Show Paramount and Netflix Come for Warner Bros.
Dec 9, 2025
Rohan Goswami, a business reporter at Semafor, and Katie Campione, a TV reporter at Deadline, dive into the intense bidding war where Paramount aims to acquire parts of Warner Bros. Discovery, including a staggering $108 billion 'hostile' bid. They unpack the implications for shareholders, the potential cultural shifts at CNN, and the growing concerns about worker job security amidst consolidation. The discussion highlights regulatory challenges and the power dynamics influencing mergers in today’s entertainment landscape.
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How A Hostile Takeover Works
- A hostile takeover bypasses management by appealing directly to shareholders to sell their shares.
- Paramount's $30-per-share bid pressures Warner's board to negotiate despite Warner preferring Netflix's offer.
Executives’ Incentives Can Skew Deals
- CEOs and boards are supposed to act for shareholders, but ego and incentives complicate mergers and acquisitions.
- David Zaslav personally stands to gain substantially, which can misalign incentives even as boards claim to prioritize shareholders.
Union Worker On Shrinking Jobs
- Michael, an IATSE union member in Queens, described how work has slowed since the strikes and productions move overseas.
- He said consolidations make workplaces tougher with smaller crews and shorter job durations for New York workers.
